GW Pharma (GWPH) Received its Third Buy in a Row

By Ryan Adsit

After Oppenheimer and Needham gave GW Pharma (NASDAQ: GWPH) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Carl Byrnes assigned a Buy rating to GW Pharma today and set a price target of $150.00. The company’s shares closed last Tuesday at $116.00.

According to TipRanks.com, Byrnes is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -15.9% and a 30.5% success rate. Byrnes covers the Healthcare sector, focusing on stocks such as Adamas Pharmaceuticals, Opiant Pharmaceuticals, and Aridis Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for GW Pharma with a $179.16 average price target, representing a 49.3% upside. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock with a $173.00 price target.

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The company has a one-year high of $188.76 and a one-year low of $67.98. Currently, GW Pharma has an average volume of 522.3K.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GWPH in relation to earlier this year.

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GW Pharmaceuticals Plc is a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel therapeutics. It offers its cannabinoid product, Epidiolex oral solution CV, a pharmaceutical formulation of cannabidiol (CBD) focusing on the treatment of seizures associated with tuberous sclerosis complex. The company was founded by Geoffrey William Guy and Brian Whittle in 1998 and is headquartered in Cambridge, the United Kingdom.